After spending weeks moving sideways, BONK is finally showing hints of a possible comeback. Traders are turning hopeful again as technical charts, ETF rumors, and fresh energy in the Solana network all seem to be pointing toward a bullish shift.
BONK has been stuck between the support level of $0.000027 and resistance near $0.000052 for several weeks. This quiet period followed a massive 260% rally earlier in the year and 81 days of consolidation, a pattern that often leads to big moves once momentum returns. Analysts like Kadense Pengu believe that the longer a token stays quiet, the stronger the next move tends to be.
In the last 24 hours, BONK bounced back by about 3.3%, trading around $0.0000206. The coin has managed to hold steady near $0.000019 twice in September, forming what looks like a double-bottom pattern. This usually signals that selling pressure is fading and buyers are slowly taking control again.
Technical indicators also support this shift. The Relative Strength Index has climbed up from near the oversold zone, and the MACD indicator has turned positive. Both suggest that buying momentum could be picking up.
The buzz around a possible BONK ETF has added extra fuel to the optimism. Tuttle Capital Management recently filed for a Bonk Income Blast ETF, sparking interest among both retail and institutional investors. Although regulatory approval is still uncertain, the filing alone caused a noticeable uptick in market activity. Open interest in BONK futures jumped over 10% to reach $27 million soon after the news. Many traders compare this to BONK’s 75% surge in July 2025 when Grayscale put the token on its watchlist, showing how institutional attention can drive major price moves.
Beyond the ETF excitement, BONK is also benefiting from the renewed buzz around Solana. As the Solana ecosystem gains traction again, whale investors have been buying heavily, over $33 million worth of BONK just in the past week. This shift comes as money moves away from weaker Solana-based meme projects, with traders seeing BONK as a stronger and safer choice within the network.
The current 24-hour trading volume sits around $530 million, which is a healthy improvement but still below the mid-2025 peak of $2.4 billion. If trading volume crosses the $600 million mark and stays there, it could confirm a stronger upward trend.
For now, traders are watching the $0.000022 level closely. A clear daily close above that could confirm the double-bottom pattern and open the path toward the next resistance at $0.000052. If BONK breaks and holds above that mark with solid volume, analysts believe it could target $0.000062 next, potentially marking the start of a new bullish phase.
However, broader market mood still matters. The current crypto Fear and Greed Index is at 62, suggesting mild greed in the market. That means some traders might take profits early if momentum slows down. For now, BONK looks promising, but it still needs solid confirmation above key resistance levels before the rally can be called official.
